Janus Henderson Group PLC lifted its position in McKesson Co. (NYSE:MCK - Free Report) by 6.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 612,448 shares of the company's stock after acquiring an additional 38,008 shares during the period. Janus Henderson Group PLC owned about 0.48% of McKesson worth $348,948,000 as of its most recent SEC filing.
Other large investors have also made changes to their positions in the company. Millstone Evans Group LLC purchased a new position in McKesson during the fourth quarter valued at approximately $28,000. Synergy Asset Management LLC purchased a new position in McKesson during the fourth quarter valued at approximately $32,000. Crews Bank & Trust purchased a new position in McKesson during the fourth quarter valued at approximately $33,000. Atala Financial Inc purchased a new position in McKesson during the fourth quarter valued at approximately $34,000. Finally, Graney & King LLC purchased a new position in McKesson during the fourth quarter valued at approximately $38,000. Institutional investors and hedge funds own 85.07% of the company's stock.
Analyst Ratings Changes
A number of research analysts recently commented on the stock. Wells Fargo & Company boosted their price objective on shares of McKesson from $641.00 to $691.00 and gave the company an "equal weight" rating in a research report on Friday, March 14th. Evercore ISI boosted their price objective on shares of McKesson from $650.00 to $675.00 and gave the company an "outperform" rating in a research report on Thursday, February 6th. UBS Group boosted their price objective on shares of McKesson from $708.00 to $805.00 and gave the company a "buy" rating in a research report on Tuesday, April 29th. Bank of America boosted their price objective on shares of McKesson from $755.00 to $800.00 and gave the company a "buy" rating in a research report on Friday, May 9th. Finally, Cfra Research downgraded shares of McKesson from a "moderate buy" rating to a "hold" rating in a research report on Friday, April 4th. Three equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $686.69.
Read Our Latest Analysis on MCK
Insider Activity at McKesson
In related news, CEO Brian S. Tyler sold 8,961 shares of the company's stock in a transaction on Friday, February 21st. The shares were sold at an average price of $597.99, for a total transaction of $5,358,588.39. Following the completion of the transaction, the chief executive officer now directly owns 60,664 shares in the company, valued at $36,276,465.36. This represents a 12.87% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.11% of the company's stock.
McKesson Price Performance
Shares of NYSE MCK traded up $16.29 during trading hours on Friday, hitting $723.05. 1,087,990 shares of the stock were exchanged, compared to its average volume of 917,012. The company's 50 day moving average is $683.14 and its 200 day moving average is $627.61. The firm has a market capitalization of $90.62 billion, a P/E ratio of 33.11, a P/E/G ratio of 1.29 and a beta of 0.53. McKesson Co. has a one year low of $464.42 and a one year high of $728.48.
McKesson (NYSE:MCK - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The company reported $10.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $9.83 by $0.29. The business had revenue of $90.82 billion during the quarter, compared to the consensus estimate of $94 billion. McKesson had a net margin of 0.82% and a negative return on equity of 181.26%. McKesson's quarterly revenue was up 18.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $6.18 EPS. Research analysts anticipate that McKesson Co. will post 32.77 earnings per share for the current fiscal year.
McKesson Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Monday, June 2nd will be paid a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a yield of 0.39%. The ex-dividend date of this dividend is Monday, June 2nd. McKesson's payout ratio is currently 10.99%.
McKesson Profile
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Free Report)
McKesson Corporation provides healthcare services in the United States and internationally. It operates through four segments: U.S. Pharmaceutical, Prescription Technology Solutions (RxTS), Medical-Surgical Solutions, and International. The U.S. Pharmaceutical segment distributes branded, generic, specialty, biosimilar and over-the-counter pharmaceutical drugs, and other healthcare-related products.
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